Professor William F. Mitchell discusses the theoretical and political background of the austerity policy. Helsinki University 9th October 2015. Mitchell works as a professor of economics at the University of Newcastle, Australia and as a director of the Centre for Full Employment and Equity. Mitchell’s latest book Eurozone Dystopia (2015) traces the origin of the flawed macroeconomic framework that rendered the Eurozone dysfunctional by design. In the book Mitchell lays bare the foundations of neoliberal “groupthink” that has locked the Eurozone into a destructive path towards persistent stagnation and rising social instability.